Tether, the Latest Victim in a String of Attacks on Cryptocurrency Providers

External attacker hacks into the virtual currency system called Tether and loots $31 million worth of digital tokens

A Santa Monica, US, based start-up company that offers a digital currency, backed by traditional currencies like the Dollar and Yen, has disclosed through a notice on its website, that a hacker has defrauded it to the tune of $31 million by stealing digital tokens. The tokens were stolen on 19th November from Tether’s Treasury Wallet and sent to an unauthorised Bitcoin address.

Tether immediately initiated a damage control exercise by attempting to get back the robbed tokens and seeks to thwart them from sneaking into the broader cryptocurrency ecosystem. The hacker is yet to be identified.